Press Release

Release Date: March 6, 2014

For release at 1:00 p.m. ET

On March 10, 2014, the Federal Reserve will conduct a fixed-rate offering of term deposits through its Term Deposit Facility (TDF). The Federal Reserve will offer seven-day term deposits with an interest rate of 0.26000 percent and a maximum tender amount of $1,250,000,000. As noted in the Federal Reserve Board's February 21, 2014, release, this operation is part of ongoing small-value operations designed to provide eligible institutions with an opportunity to gain familiarity with term deposit operations. Additional information regarding the operation is listed below; the operation will be conducted as specified in this announcement, Regulation D, and the terms and conditions of the Term Deposit Facility (http://www.frbservices.org/centralbank/term_deposit_facility.html).

Description of Operation and Tender Parameters

TDF Operation ID:

F36

Operation Format:

Fixed-Rate

Term:

Seven-Day

Interest Rate:

0.26000%

Operation Date:

Monday, March 10, 2014

Opening Time:

10:00 a.m. ET

Closing Time:

2:00 p.m. ET

Notification Date (summary results):

Tuesday, March 11, 2014

Settlement Date:

Thursday, March 13, 2014

Maturity Date:

Thursday, March 20, 2014

Tender Parameters

Maximum Number of Tenders:

1

Minimum Tender Amount:

$10,000

Tender Increment:

$10,000

Maximum Tender Amount (per institution):

$1,250,000,000

Award Minimum Amount:

$10,000

Award Maximum Amount:

$1,250,000,000

All tenders that are complete and compliant with the operation parameters listed above will be automatically awarded in full at the interest rate shown above. The minimum tender amount is $10,000; the maximum amount is $1,250,000,000 and should be submitted in increments of $10,000. All tenders must be submitted between the opening and closing time on the operation date.